Following on from Marine’s post discussing whether ecommerce will win out over brick and mortar as we begin to ease out of lockdown, it is interesting to see one of the biggest UK retailers, John Lewis, signal their intent for online with the launch of a free virtual personal shopping service for customers.
And the latest Adobe Analytics Digital Economy Index supports this approach showing that online sales in the States reached $73.2 billion in June, up 76.2% year over year. And this level of ecommerce continues to track at above holiday (November and December) levels. However, there are two signals that online shopping maybe plateauing slightly with online grocery cart sizes beginning to decrease as well as the influx of new customers slowing down.
The reason behind this? The obvious factor is the re-opening of shops. Another factor is the rise in online prices. In the first half of the year, brands offered heavy discounts to move inventory and increase demand. Now, retailers are slowly raising prices to improve their margin.
As we head into the Golden Quarter, it is critical for brands to decide now what they think the future of commerce is post COVID. If they don’t, they will miss out on impacting the bottom line. So the question is – will it be an omni-channel approach utilising both online and brick and mortar, or, will it be putting all eggs in the online basket?
Keen to discuss this more?
Hotwire will be hosting a round table on Thursday, 6th of August at 4pm (BST) on the subject of “The Future of E-commerce – Greater Power and Greater Responsibility?”.
If you would like to join us and share your thoughts with your industry peers, please register here and get in touch with Marine Reynaud at firstname.lastname@example.org or Brittany Atkins at email@example.com.
The latest Adobe Analytics Digital Economy Index supports this approach showing that online sales in the States reached $73.2 billion in June, up 76.2% year over year